Some have described the rapidly accelerating global push in Quantum Computing as a figurative “space race” given the potential reach of its computational power and its applications in drug development, logistics, material science, and its potential ability to overpower existing encryption techniques. However, this post is focused on the literal quantum space race – the increasing number of quantum devices in orbit and their profound applications.
As noted in this post, there has been significant advancements in Quantum Computing hardware over the past year or so and I expect this momentum will continue in 2023. Presently there are QCs with 10s to 100s of qubits, and the coherence, connect-ability and control on these early machines continues to improve. There are various tradeoffs among the QC modalities, summarized in this post.
Given my overall assessment of ColdQuanta including its strong IP, broad and complementary offering, and prestigious existing customers (and revenues), I am assigning the highest rating to ColdQuanta at this time, with an Alpha of 0.95 which equates to an “Exceptional performance expected.”
Why I’m Excited About the Classiq Coding Competition, and Why You Should be Too – Even if You Don’t Understand Quantum Programming
Ultimately, Quantum Computers will only be as valuable and impactful as the programs written for them, so seeing creativity and outside-the-box approaches to challenges with these early, noisy, faulty machines will be quite revealing. The Classiq Coding Competition should bring out this programming creativity.
Those who invest in the winners will enjoy significant outsized financial gains, and those who back the companies that do not survive, will lick their wounds. But as an industry, the race is on, the potential rewards are massive, and the clock is ticking. I sure hope that whoever wins the race uses the power to do good in the world.
So, is quantum winter coming? Not in this writer’s opinion. There is still a long way to go before we have QCs that can add value to computational problems and even further before consistent quantum advantage. The hill is steep and the climb is arduous, but I am confident the view will be worth the climb.
Classiq has a solid team, strong balance sheet, and highly regarded product. It has entered into a meaningful number of collaborations and partnerships with a wide variety of players. And its business model provides value-add to customers in an agnostic way vis-a-vis quantum hardware and software. While there may some increasing competition, they appear to have a solid first-mover advantage. If Classiq can continue its current momentum and become the go-to provider for customers seeking to optimize their quantum algorithms, their customer base should expand quite rapidly and consistently.
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